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City are prepared to be patient to complete the transfer, but it seems unlikely that anything will be completed in time for Iheanacho to link up with the City squad at their training camp in Austria next week.

City believe the impressive young striker, who has made nine starts and 21 substitute appearances for Man City, scoring nine times and providing three assists, could be a good attacking partner for Jamie Vardy.

City have already spent £17m on defender Harry Maguire from Hull and £12m on midfielder Vicente Iborra from Sevilla, and manager Craig Shakespeare said he hoped to bring in two or three more players before the end of the transfer window.

"I still think we can make some additions," he said. "I think it would strengthen us and make us healthier in certain positions. The competition will be good.

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"There are so many players out there and you have seen the speculation around the same teams. I am not going to get into names and I won't do. We all know the players out there and those possibly available.

"Two or three additions would really make us competitive for the start of the season.

"I am hopeful, but I always I am at the start of it and I am very pleased with the two signings so far. If we can add to that as well I think it will be a really exciting start."